Bed Bath & Beyond Inc Reports 44% Decline In Q2 Profit

(RTTNews) - Bed Bath & Beyond Inc (BBBY) reported earnings for second quarter that dropped from last year.

The company said its earnings declined to $94.23 million, or $0.67 per share. This was down from $167.34 million, or $1.11 per share, in last year's second quarter.

Analysts had expected the company to earn $0.95 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.7% to $2.94 billion. This was down from $2.99 billion last year.

Bed Bath & Beyond Inc earnings at a glance:

-Earnings (Q2): $94.23 Mln. vs. $167.34 Mln. last year. -Earnings Decline (Y-o-Y): -43.7% -EPS (Q2): $0.67 vs. $1.11 last year. -EPS Decline (Y-o-Y): -39.6% -Analysts Estimate: $0.95 -Revenue (Q2): $2.94 Bln vs. $2.99 Bln last year. -Revenue Change (Y-o-Y): -1.7%